Gigaba was referring to remarks made by then-Deputy President Cyril Ramaphosa at the World Economic Forum last month.

Finance Minister Malusi Gigaba on Wednesday remained firm that South Africa could not afford to embark on a nuclear power expansion programme, adding that for the moment the country's new coal-powered stations provided adequate supply.

The local currency had fallen to 11.99 early on Tuesday as markets awaited the outcome of an ANC meeting on Zuma’s fate, before climbing to around 11.88 later in the day after the party said it was recalling him.